Jubilant Food share hits new high, gains 35 percent in a month

Published On: Wednesday, August 18, 2021 | By:

Jubilant Food share hits new high, gains 35 percent in a month

Shares of Jubilant FoodWorks gained 7 percent intraday and hit a new high of Rs 4166.40 on the BSE on Wednesday on strong growth prospects. The stock price of the Quick Service Restaurant (QSR) company rallied over 34% in the past month due to robot quarterly performance in the first quarter of FY22 (Q1FY22) and healthy growth prospects. Jubilant Foodworks Ltd, operates three international brands, Domino’s Pizza, Dunkin' Donuts, and Popeyes. Jubilant FoodWorks aims to “transform itself into a food-tech powerhouse” after reporting a robust recovery from the second COVID wave, the company said. For Q1FY21, JFL reported a consolidated net profit of Rs 69.06 crore in the first quarter ended June 30, It had posted a consolidated net loss of Rs 74.47 crore in the same quarter last fiscal. Its revenue from operations in the first quarter stood at Rs 893.19 crore as compared to Rs 388.41 crore in the corresponding period last year

“We intend to use technology at the heart of everything we do and use it to completely transform and revamp our customer experience, employee experience, and to drive operational efficiencies,” Pratik Pota, CEO and wholetime director of Jubilant FoodWorks, said during an investor call after first-quarter results.

The company is undergoing a digital transformation with an eye on capturing the “likely high growth in deliveries and takeaways”.

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